The problem FlowNFT solves

The FlowNFTCollection system,based on https://twitter.com/MicheleDaliessi/status/1664582117404078082 combined with a backend server, addresses a significant gap in the NFT ecosystem: the ability to rent out NFTs. Here's how it solves the issue:

1. Monetization without Selling:

• For Owners: Traditionally, NFT owners could only monetize their assets by selling them. This platform allows them to generate a continuous stream of income by renting out their NFTs while retaining ownership.
• For Renters: Users who don't want to commit to purchasing an NFT can now access its benefits for a limited time by renting it.

2. Decentralized Payment Streams:

• Utilizing the Superfluid protocol, the system enables real-time, continuous payment streams. This ensures that NFT owners are compensated in real-time for their rented assets, reducing the risk of non-payment.

3. Dynamic Trait Ownership:

• The system introduces the concept of "trait ownership", decoupling the utility or access of an NFT from its actual ownership. This means while the NFT remains in the owner's wallet, its traits or utilities can be accessed by the renter.

4. Enhanced Security:

• The NFT remains in the owner's wallet throughout the rental period, ensuring they retain control and ownership.
• Payments are handled through trusted smart contract operations, minimizing the risk of fraud.

5. Automated Management:

• The backend server automates the management of rentals. It monitors payment streams and updates trait ownership based on real-time payment flows. If a renter stops paying, their access is automatically revoked.

6. Event-Driven Updates:

The server listens to blockchain events, ensuring that the system responds in real-time to changes like NFT transfers, ensuring the integrity of the rental process.

Challenges I ran into

Automated Management of Rentals:
Challenge: Monitoring and managing active rentals, especially the payment streams and trait ownership updates, posed a challenge due to the dynamic nature of rentals.
Solution: We built a backend server that constantly monitors the blockchain and the Superfluid protocol. By listening to events and checking payment streams, the server can automatically update trait ownership and manage rentals.